Large Cash Business Transactions and IRS Reporting
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. Requirements Each person who, while operating a trade …
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Passport at Risk When High Tax Debt Looms
If you have a large unpaid federal tax bill, beware. A 2015 law allows the U.S. State Department to deny your passport application — or revoke or limit your current …
Possible Tax Breaks to Offset Long-Term Care Costs
If you have a parent entering a nursing home, taxes are probably the last thing on your mind. But you should know there may be several possible tax benefits. Medical …
The Pros and Cons of Digitized Tax and Financial Records
Traditionally, important tax and financial records have been stored as hard copies in desk drawers, filing cabinets, and safe deposit boxes. These days, however, it’s become increasingly popular and easy …
Selling your business? Consider an Installment Sale
You’ve spent years building your company and now you’re ready to move on, possibly to a new business, retirement, or something else. Whatever your plans, you want to get the …